UPDATE: JP Morgan Downgrades Ball Corporation to Neutral on Fair Valuation

JP Morgan lowers its rating on Ball Corporation BLL from Overweight to Neutral and reduces its price target from $45 to $44. JP Morgan comments, "BLL has been a consistently strong performer, a function of solid growth, margin improvement and capital deployment decisions. We feel, however, that the market is giving ample credit to BLL, and with shares currently trading at a fair valuation. Looking to 2013, we see continued EBIT growth, albeit at a slower rate than 2012. Recent currency weakness (Euro, Real) present an incremental headwind (albeit more modest than peers). All in, we now feel that BLL's strong track record is represented in current valuation, so we are moving to N from OW." BLL closed at $41.64 on Friday.
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Posted In: Analyst ColorDowngradesPrice TargetPre-Market OutlookAnalyst RatingsJP Morgan
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